Today.Az » Business » Non-oil exports increase significantly
11 June 2019 [14:48] - Today.Az
By Leman Mammadova
Azerbaijan exported non-oil products worth $167 million in April 2019, showing 29 percent increase compared to the same period last year.
This is stated in the latest Export Review by the Center for Analysis of Economic Reforms and Communication.
The main directions of export were Russia ($49.6 million), Turkey ($48.6 million) and Georgia ($12 million).
In January-April, exports from the country amounted to $7.1 billion, which is 25.6 percent or $1.4 billion more compared to the same period of 2018.
In total, the volume of non-oil exports amounted to $583 million, which is 20 percent more compared to the same period last year.
Over the first four months of this year, non-oil exports to Russia made up $165 million, Turkey - $148 million, Georgia - $62 million, Switzerland - $45 million, and to Italy - $22 million.
Thus, during January-April 2019, non-oil exports to Russia increased by 22 percent, to Turkey - by 16 percent, to Georgia - by 19 percent, to Switzerland - by 13 percent, and to Italy - twice in comparison with the same period of 2018.
In the list of the non-oil products exported in January-April, raw cotton ($57.9 million) was first. Peeled nut came second ($53.7 million), while tomato ($49.6 million) was on the third place.
The top private and public companies involved in the non-oil export operations included SOCAR’s Marketing and Economic Operations Department, Azerenergy, MKT Production Commercial, SOCAR Polymer, Azerbaijan International Mining Company, Azeraluminium, Azergold, P-Agro, TST Export, Sun Food, Agrovest, Baku Steel Company, Azhazelnut, Ram International Transport and Trade.
Export and import operations develop and expand national economies as well as constitute the basis of successful business. A country’s economy develops by exporting products in excess and importing goods that it lacks.
At present, oil and gas account for the main share in Azerbaijan's export, although export of non-oil products shows an upward trend.
Opening of Azerbaijani trade houses abroad and organization of export missions to foreign countries to promote the Made in Azerbaijan brand in foreign markets have further developed the share of non-oil products in the structure of the country’s exports.